Company Registration No. 03970409 (England and Wales)
XPRESS LABELS LIMITED
Unaudited accounts
for the year ended 31 December 2024
XPRESS LABELS LIMITED
Unaudited accounts
Contents
XPRESS LABELS LIMITED
Company Information
for the year ended 31 December 2024
Directors
Mr J.M. Clark
Mrs S.L. Clark
Mr J. Clark
Mr J.M. Palman
Company Number
03970409 (England and Wales)
Registered Office
Unit 10 Anglo Business Park
Smeaton Close
Aylesbury
Bucks
HP19 8UP
United Kingdom
Accountants
Stephen Beard Accountancy Services
10 Cheshire Road
Thame
Oxon
OX9 3LQ
XPRESS LABELS LIMITED
Statement of financial position
as at 31 December 2024
Tangible assets
1,261,974
1,327,830
Inventories
477,402
485,747
Cash at bank and in hand
85,984
274,110
Creditors: amounts falling due within one year
(1,252,068)
(928,489)
Net current assets
158,401
460,261
Total assets less current liabilities
1,420,375
1,788,091
Creditors: amounts falling due after more than one year
(501,770)
(694,747)
Provisions for liabilities
Deferred tax
(199,531)
(218,919)
Net assets
719,074
874,425
Called up share capital
100
100
Revaluation reserve
169,754
169,754
Profit and loss account
549,220
704,571
Shareholders' funds
719,074
874,425
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2025 and were signed on its behalf by
Mr J.M. Clark
Director
Company Registration No. 03970409
XPRESS LABELS LIMITED
Notes to the Accounts
for the year ended 31 December 2024
XPRESS LABELS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03970409. The registered office is Unit 10 Anglo Business Park, Smeaton Close, Aylesbury, Bucks, HP19 8UP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation is provided on all tangible fixed assets, other than freehold property, at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% Straight line on leasehold improvements
Plant & machinery
15% Reducing Balance
Motor vehicles
20% Straight line
Fixtures & fittings
20% Straight line
Computer equipment
20% Straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
XPRESS LABELS LIMITED
Notes to the Accounts
for the year ended 31 December 2024
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
653,674
1,516,102
7,475
2,177,251
Additions
17,757
48,749
-
66,506
At 31 December 2024
671,431
1,564,851
7,475
2,243,757
At 1 January 2024
34,227
808,715
6,479
849,421
Charge for the year
5,003
126,363
996
132,362
At 31 December 2024
39,230
935,078
7,475
981,783
At 31 December 2024
632,201
629,773
-
1,261,974
At 31 December 2023
619,447
707,387
996
1,327,830
Carrying amount of land and buildings on cost basis
455,438
437,681
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
151,088
160,412
XPRESS LABELS LIMITED
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Trade debtors
732,351
525,660
Accrued income and prepayments
114,232
102,582
Amounts falling due after more than one year
Accrued income and prepayments
-
651
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
476,922
122,290
Obligations under finance leases and hire purchase contracts
58,563
51,642
Trade creditors
542,870
491,712
Taxes and social security
44,989
139,498
Other creditors
60,863
6,197
Deferred income
21,121
25,277
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
397,505
523,666
Obligations under finance leases and hire purchase contracts
78,765
126,706
Deferred income
25,500
44,375
Aggregate of amounts that fall due for payment after five years
180,955
241,172
There are legal charges held over freehold property together with an unlimited debenture from the company and personal guarantee's from the directors.
There is a Coronavirus Business interruption loan (CBIL). This was provided to support the business during the exceptional circumstances caused by the outbreak of Covid-19 (Coronaviris).
The loan is provied under the CBIL scheme managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of state for Business, Energy and Industrial Strategy.
XPRESS LABELS LIMITED
Notes to the Accounts
for the year ended 31 December 2024
8
Deferred taxation
2024
2023
Accelerated capital allowances
153,292
172,680
Revaluation of land and buildings
46,239
46,239
Provision at start of year
218,919
184,610
(Credited)/charged to the profit and loss account
(19,388)
34,309
Provision at end of year
199,531
218,919
9
Operating lease commitments
2024
2023
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
165,504
146,289
Later than one year and not later than five years
214,967
263,921
10
Average number of employees
During the year the average number of employees was 37 (2023: 34).